Noble cuts dividend by 60%
Noble Corp (NOBL) will lower its quarterly dividend from $0.375 to $0.15 per share.
We believe the revised dividend appropriately addresses the prevailing industry uncertainty," according to Chief Executive David Williams.
"The decision to adjust the dividend and preserve liquidity in an uncertain market is not reflective of our current financial performance, "
Based on a stock price of $13 Noble's dividend yield will drop to 4.5% compared to 11.5% prior to the dividend cut.
Source: Noble Corp
We believe the revised dividend appropriately addresses the prevailing industry uncertainty," according to Chief Executive David Williams.
"The decision to adjust the dividend and preserve liquidity in an uncertain market is not reflective of our current financial performance, "
Based on a stock price of $13 Noble's dividend yield will drop to 4.5% compared to 11.5% prior to the dividend cut.
Source: Noble Corp
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